Tahoe Resources Inc. (TSE:THO), a precious metals miner, dropped after a preliminary decision to suspend the mining license of its Guatemalan subsidiary has been upheld
Sean Mason | August 25, 2017 | SmallCapPower
A legal appeal seems to have gone the wrong way, weighing on shares of a precious metals miner Friday. Here’s some small stocks making big moves on Friday, August 25, 2017 (as of 4 pm EST):
Tahoe Resources Inc. (TSX: THO) shares sank 19% to $5.58 on Friday after the precious metals miner announced that it has learned through unconfirmed sources that the Guatemalan Constitutional Court issued a decision upholding the lower court’s preliminary decision to provisionally suspend the mining license of Tahoe’s Guatemalan subsidiary, Minera San Rafael.
As well, shares of Canadian Zeolite Corp. (TSXV: CNZ) jumped as much as 21% before ending unchanged at $0.52 as the marketer and distributor of zeolite and zeolite products said it has signed a supplier agreement with KMI Zeolite based in Nevada, which enables Canadian Zeolite to purchase and market sized zeolite and zeolite products for its growing U.S. customer base.
Savaria Corporation (TSX: SIS), meanwhile, reported that it has agreed to acquire Visilift, LLC for US$5.0 million. Savaria expects the acquired business to generate US$3.0 million in sales in 2018 and US$10 million in sales in 2019, with EBITDA margins of approximately 20%. Savaria Corp stock moved up 6% to $13.16 following the announcement.
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Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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